30-Year Mortgage Rates Rise for Third Week

The average interest rate on 30-year fixed-rate mortgages rose slightly for the third consecutive week, mortgage company Freddie Mac said. The average rose to a five-week high of 6.82%, from 6.77% the week before, and a six-week low of 6.74% at the end of January. Fifteen-year mortgages averaged 6.46% this week, up from 6.40% and also a five-week high. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.67%, an eight-month high and up from 5.58% the previous week. The rates do not include add-on fees known as points.